Brooklyn Bridge. Shutterstock.
Younger generations are less focused on homeownership as the flock to rent in urban centers. Data shows that more and more, upwardly mobile Millenials are choosing to rent and invest in growing their assets in other financial sectors instead, Craig Wood, CEO of real estate development firm Cape Advisors, tells GlobeSt.com.
According to a recent Apartment List Survey, an estimated 12 percent of millennial renters plan to "always rent," which is more than the 10.7 percent who took the survey in the past. The survey data was collected from more than 10,000 millennial renters in the United States.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
